SCHE vs VWO: Grades, Fees and Holdings Compared

Schwab Emerging Markets Equity ETF

SCHEANYSE Arca

Vanguard FTSE Emerging Markets ETF

VWOANYSE Arca

Overlap

72.0%by weight

Expense ratio

SCHE0.06%VWO0.06%

Avg volume · 30D

VWO 2.3×the volume

SCHE3.11MVWO7.3M

10Y return · a year

SCHE +0.1pt

SCHE+6.9%VWO+6.8%

SCHE vs VWO Performance

Oct 29, 2021 – Oct 30, 2026

+28.1%SCHE+27.1%VWO

Expense ratio: SCHE 0.06%; VWO 0.06%
Fund size: SCHE $12.1B; VWO $165B
1Y total return: SCHE +3.8%, better; VWO +3.3%
Yield (12M): SCHE 2.79%, better; VWO 2.19%
Holdings: SCHE 2224; VWO 5015
Avg volume (30D): SCHE 3.11M sh; VWO 7.3M sh, better
NAV per share: SCHE $34.30; VWO $55.50
52W range

ETF.net Grade

Pillar letters and Scores for SCHE, VWO, with each pillar’s weight
Pillar	SCHE	VWO
Cost30% weight	A80	A80
Mission25% weight	A100	A100
Risk15% weight	C50Higher	C48
Tradability15% weight	B61	A83Higher
Holdings10% weight	D37	B58Higher
Durability5% weight	B55	A86Higher

Rank among Emerging Markets Total Market funds

How we build Categories ›

Same Category. SCHE and VWO are both graded against the same 5 Emerging Markets Total Market funds, so their Grades compare head to head.

Emerging Markets Total Market⁠

Category · 5 funds

See all 5 ›

VWO ranks 1st and SCHE 2nd of 5 funds in the Emerging Markets Total Market Category.

Rank 1AVWOVanguard FTSE Emerging Markets ETFScore 78
Rank 2ASCHESchwab Emerging Markets Equity ETFScore 71
Rank 3BSPEMState Street SPDR Portfolio Emerging Markets ETFScore 69

Our read on each fund

ETF.net Research

SCHEASchwab Emerging Markets Equity ETF

VWOAVanguard FTSE Emerging Markets ETF

In short

SCHE Emerging markets for six basis points. Schwab's tracker spreads roughly 2,200 stocks across FTSE's emerging universe at well under the typical fee in its group, and it has been running the same play since 2010.

VWO Emerging markets the FTSE way: no South Korea (FTSE grades it developed), Chinese A-shares in the mix, small caps riding along, all for six basis points.

Stated mandate

SCHE The fund seeks to track the total return of the FTSE Emerging Index, before fees and expenses.

VWO The fund seeks to track the FTSE Emerging Markets All Cap China A Inclusion Index through passive index sampling, investing in a broadly diversified portfolio of emerging-market equities.

Why people hold it

SCHE Costs 0.06% a year, under a third of the 0.19% peer median. That matches the cheapest fund in the cohort (VWO) and undercuts SPEM.
Hugs its benchmark: index replication here is among the tightest in the emerging-markets group, which is the whole job of a tracker.
Roughly 2,200 stocks drawn from FTSE's advanced and secondary emerging segments. Broad coverage of the asset class in one ticket.sec.gov
Trading since 2010 and now a multi-billion-dollar fund that changes hands actively, so it is not a thin, hard-to-exit corner of the market.

VWO 0.06% a year against a 0.19% median for broad emerging-market funds. On a $10,000 position that is roughly $6 annually.
The benchmark spans large, mid and small caps, so the portfolio holds several thousand emerging-market stocks rather than a few hundred blue chips.vanguard.com
Vanguard samples the index instead of buying every line, and tracking has been among the tightest in this peer group. It is also one of the most heavily traded EM funds.vanguard.com
Trading since 2005 and now one of the largest emerging-market funds around, with quarterly distributions. SCHE and SPEM match the fee zone but not the size or the all-cap reach.

Worth knowing

SCHE Emerging-market equity brings currency swings and country-level policy risk on top of normal stock volatility. Expect a bumpier ride than a developed-market core fund.
FTSE classifies countries its own way (advanced and secondary emerging segments), so the country lineup differs from MSCI-based emerging-markets funds.sec.gov
Distributions land annually or semiannually, not monthly, so income arrives in lumps.

VWO FTSE moved South Korea to developed status, so this fund leaves it out. Country mix differs from MSCI-based emerging-market funds, which still carry Korea.lseg.com
Market-cap weighting means the biggest emerging markets set the tone. The small-cap tail adds names more than it adds weight.vanguard.com
Emerging-market shares and their currencies move more sharply than developed-market ones, and the exposure here is unhedged.vanguard.com

Full SCHE profile⁠

Full VWO profile⁠

SCHE vs VWO Holdings

How SCHE and VWO differ

Overlap by weight

72.0%

Shared holdings make up 82.7% of SCHE and 73.0% of VWO.

Level by level

Holdings1,715 in both72.0%
Countryby domicile93.3%
Sector11 Sectors96.5%
Asset classEquity100%

Sector

Sector weights in SCHE and VWO, widest gap first
Sector	More in SCHEMore in VWO	SCHE	VWO
Financials	SCHE +1.6 points	20.6%	19.0%
Industrials	VWO +1.3 points	6.3%	7.6%
Technology	VWO +0.8 points	34.7%	35.5%
Communication	SCHE +0.7 points	6.9%	6.2%
Energy	SCHE +0.5 points	4.3%	3.8%
Health Care	VWO +0.5 points	3.7%	4.2%
Consumer Discretionary	SCHE +0.5 points	9.0%	8.5%
Materials	VWO +0.5 points	7.1%	7.6%
Real Estate	VWO +0.3 points	1.6%	1.9%
Utilities	SCHE +0.2 points	2.6%	2.4%
Consumer Staples	VWO +0.2 points	3.1%	3.3%

Country, concentration and asset class

Country by domicile

Country weights in SCHE and VWO, widest gap first
Country	More in SCHEMore in VWO	SCHE	VWO
South Africa	VWO +6.4 points	4.7%	11.1%
Taiwan	SCHE +2.2 points	37.3%	35.1%
United States	SCHE +1.2 points	1.2%	0.0%
India	SCHE +0.9 points	16.9%	16.0%
China	SCHE +0.9 points	26.9%	26.0%
Hong Kong	SCHE +0.6 points	0.6%	0.0%
Other countries (11)	SCHE +0.6 points	12.5%	11.9%

Outside the US: SCHE 1% developed, 99% emerging. VWO 0% developed, 100% emerging.

Concentration

Weight in the 10 largest Holdings

SCHE30.1%
VWO29.8%

Securities held

SCHE2,205
VWO4,965

Asset class

SCHE: Equity
VWO: Equity

Holdings

Only in SCHE490
In both1,715
Only in VWO3,250

Only in SCHE

490 securities, 17.3% of SCHE by weight

Ssc Government Mm Gvmxx0.82%
Reliance Industries Ltd0.81%
Anglogold Ashanti PLC0.43%
Saudi Arabian Oil0.40%
The Saudi National Bank0.28%
Larsen and Toubro Ltd0.26%
Tata Consultancy Services Ltd0.26%
Capitec Shs0.25%
First Abu Dhabi Bank0.22%
Saudi Arabian Mining0.21%
Saudi Telecom0.20%
Emirates Telecommunications Group0.19%
State Bank of India0.19%
Malayan Banking0.18%
Delta Electronics (Thailand) Non-V0.18%
Valterra Platinum Ltd0.18%
Aspeed Technology0.17%
Public Bank0.17%
Eternal0.16%
Ntpc Ltd0.15%
Tenaga Nasional0.15%
Ptt Non-Voting Dr0.15%
Adani Ports and Special Economic Z0.14%
International Container Terminal’s0.14%
Cimb Group Holdings0.14%
Abu Dhabi Commercial Bank0.14%
Mpi Corp0.12%
Kasikornbank Public Non-Voting Dr0.12%
Shriram Finance Ltd0.12%
Power Grid Corporation of India0.12%
Tech Mahindra0.12%
Saudi Basic Industries0.11%
Jsw Steel0.11%
Taiwan Union Technology Corp0.11%
Phison Electronics Corp0.11%
Grasim Industries0.11%
Riyad Bank0.10%
Interglobe Aviation Ltd0.09%
Acwa Power Co0.09%
Advanced Info Service Non-Voting D0.09%
Oil and Natural Gas Ltd0.09%
Cez0.09%
Dr Reddys Laboratories0.08%
Tata Motors Ltd0.08%
Itc Ltd0.08%
Aselsan Elektronik Sanayi Ve Ticar0.08%
Trent Ltd0.08%
Abu Dhabi Islamic Bank0.08%
Alinma Bank0.08%
Cipla Ltd0.08%

Only in VWO

3,250 securities, 26.1% of VWO by weight

SLCMT11422.96%
Reliance Industries Ltd0.69%
Anglogold Ashanti Plc0.39%
Saudi Arabian Oil Co0.33%
Saudi National Bank/The0.26%
Larsen & Toubro Ltd0.22%
First Abu Dhabi Bank PJSC0.20%
Capitec Limited0.19%
Saudi Arabian Mining Co0.19%
Tata Consultancy Services Ltd0.18%
Saudi Telecom Co0.18%
Valterra Platinum Ltd0.17%
Emirates Telecommunications Group Co PJSC0.17%
ASPEED Technology Inc0.16%
Malayan Banking Bhd0.15%
Public Bank Bhd0.14%
CIMB Group Holdings Bhd0.13%
NTPC Ltd0.13%
State Bank of India0.13%
International Container Terminal Services Inc0.13%
Eternal Ltd0.13%
Tenaga Nasional Bhd0.12%
Ptt Pcl/Foreign0.12%
Abu Dhabi Commercial Bank PJSC0.12%
Shriram Finance Ltd0.12%
Adani Ports & Special Economic Zone Ltd0.11%
MPI Corp0.11%
Power Grid Corp of India Ltd0.10%
Phison Electronics Corp0.10%
Taiwan Union Technology Corp0.10%
JSW Steel Ltd0.10%
Grasim Industries Ltd0.10%
Saudi Basic Industries Corp0.09%
Riyad Bank0.09%
Kasikornbank Pcl-Foreign0.09%
ACWA Power Co0.08%
Tech Mahindra Ltd0.08%
InterGlobe Aviation Ltd0.08%
Alinma Bank0.08%
United Microelectron-Sp Adr0.08%
Abu Dhabi Islamic Bank PJSC0.08%
Advanced Info Service-Foreig0.08%
Oil & Natural Gas Corp Ltd0.08%
Tata Motors Ltd /new0.07%
Saudi Awwal Bank0.07%
Cez As0.07%
Globalwafers Co Ltd0.07%
ITC Ltd0.07%
Aselsan Elektronik Sanayi Ve Ticaret AS0.07%
Cipla Ltd/India0.07%

Weight gaps

The 100 widest of 1,715 Holdings in both funds.

Holding weights in SCHE and VWO, widest gap first
Holding	More in SCHEMore in VWO	SCHE	VWO
Taiwan Semiconductor Manufacturing	SCHE +1.95 points	17.71%	15.76%
Delta Electronics	VWO +0.27 points	0.86%	1.13%
China Construction Bank Corp H	SCHE +0.21 points	1.12%	0.91%
Alibaba Group Holding	SCHE +0.17 points	2.28%	2.11%
Bharti Airtel Ltd	SCHE +0.16 points	0.63%	0.47%
Icici Bank	SCHE +0.15 points	0.76%	0.60%
Nan Ya Plastics Corp	SCHE +0.13 points	0.46%	0.33%
Tencent Holdings	SCHE +0.13 points	2.95%	2.82%
Industrial and Commercial Bank of	SCHE +0.13 points	0.78%	0.65%
Hon Hai Precision Industry	SCHE +0.11 points	0.91%	0.80%
Infosys	SCHE +0.11 points	0.42%	0.31%
Hdfc Bank	SCHE +0.11 points	0.81%	0.70%
Pdd Holdings AdsPDD	SCHE +0.10 points	0.60%	0.50%
Xiaomi	SCHE +0.09 points	0.55%	0.46%
Bank of China Ltd H	SCHE +0.09 points	0.52%	0.43%
Mediatek	VWO +0.09 points	1.79%	1.88%
Ctbc Financial Holding	SCHE +0.09 points	0.40%	0.31%
Petroleo Brasileiro Pref SA	SCHE +0.08 points	0.43%	0.35%
Petroleo Brasileiro SA	SCHE +0.08 points	0.40%	0.32%
Fubon Financial Holding	SCHE +0.08 points	0.41%	0.33%
Ase Technology Holding	SCHE +0.07 points	0.68%	0.61%
Grupo Cibest Pref SA	SCHE +0.08 points	0.10%	0.02%
Elite Material	SCHE +0.07 points	0.44%	0.37%
Chunghwa Telecom Ltd	SCHE +0.06 points	0.18%	0.12%
Meituan	SCHE +0.07 points	0.48%	0.41%
Cathay Financial Holding	SCHE +0.06 points	0.34%	0.28%
Kotak Mahindra Bank Ltd	SCHE +0.06 points	0.26%	0.20%
Gpo Finance Banorte	SCHE +0.06 points	0.28%	0.22%
Kweichow Moutai A	SCHE +0.06 points	0.18%	0.12%
Itau Unibanco Holding Pref SA	SCHE +0.05 points	0.39%	0.34%
Yuanta Financial Holding	SCHE +0.06 points	0.26%	0.20%
Petrochina H	SCHE +0.05 points	0.26%	0.21%
Grupo Mexico B	SCHE +0.06 points	0.35%	0.29%
E.sun Financial Holding	SCHE +0.05 points	0.24%	0.19%
Yum China Holdings Inc	SCHE +0.05 points	0.15%	0.10%
Al Rajhi Bank	SCHE +0.05 points	0.46%	0.41%
America Movil B	SCHE +0.05 points	0.18%	0.13%
Otp Bank	SCHE +0.04 points	0.29%	0.25%
Standard Bank Group	SCHE +0.05 points	0.24%	0.19%
Ping An Insurance (Group) Co of Ch	SCHE +0.05 points	0.38%	0.33%
Firstrand Ltd	SCHE +0.05 points	0.29%	0.24%
Axis Bank	SCHE +0.05 points	0.29%	0.24%
China Merchants Bank H	SCHE +0.05 points	0.25%	0.20%
Novatek Microelectronics	SCHE +0.04 points	0.10%	0.06%
Qatar National Bank	SCHE +0.05 points	0.20%	0.15%
Naspers Limited Class N	SCHE +0.05 points	0.31%	0.26%
Mtn Group	SCHE +0.05 points	0.20%	0.15%
Mega Financial Holding Ltd	SCHE +0.04 points	0.19%	0.15%
Gold Fields	SCHE +0.04 points	0.31%	0.27%
Ts Financial Holding	SCHE +0.04 points	0.30%	0.26%
Fomento Economico Mexicano Ubd Uni	SCHE +0.04 points	0.21%	0.17%
Hcl Technologies Ltd	SCHE +0.04 points	0.15%	0.11%
Cemex Cpo	SCHE +0.04 points	0.16%	0.12%
Mahindra and Mahindra Ltd	SCHE +0.04 points	0.28%	0.24%
Emaar Properties	VWO +0.04 points	0.19%	0.23%
Beone Medicines AG	SCHE +0.04 points	0.23%	0.19%
Bajaj Finance Ltd	SCHE +0.03 points	0.26%	0.23%
Agricultural Bank of China H	SCHE +0.04 points	0.19%	0.15%
First Financial Holding Ltd	SCHE +0.04 points	0.15%	0.11%
National Bank of Kuwait	SCHE +0.03 points	0.23%	0.20%
Vedanta Ltd	SCHE +0.04 points	0.04%	<0.01%
Sasol	SCHE +0.04 points	0.11%	0.07%
Sinopac Financial Holdings	SCHE +0.03 points	0.18%	0.15%
Embraer	SCHE +0.03 points	0.13%	0.10%
Yageo	SCHE +0.04 points	0.26%	0.22%
Accton Technology	SCHE +0.03 points	0.26%	0.23%
Jd.com Class A	SCHE +0.03 points	0.30%	0.27%
Kuwait Finance House	SCHE +0.04 points	0.29%	0.25%
Hua Nan Financial Holdings	SCHE +0.03 points	0.14%	0.11%
Bizlink Holding Inc	VWO +0.03 points	0.09%	0.12%
Trip.com Group	SCHE +0.02 points	0.22%	0.20%
Wistron	SCHE +0.03 points	0.17%	0.14%
Netease	SCHE +0.02 points	0.39%	0.37%
Sun Pharmaceutical Industries	SCHE +0.02 points	0.19%	0.17%
Divis Laboratories Ltd	SCHE +0.03 points	0.13%	0.10%
Hindustan Unilever Ltd	SCHE +0.03 points	0.17%	0.14%
China Petroleum and Chemical H	SCHE +0.03 points	0.13%	0.10%
China Shenhua Energy Ltd H	SCHE +0.02 points	0.18%	0.16%
Quanta Computer	SCHE +0.02 points	0.25%	0.23%
Zhen Ding Technology Holding Ltd	SCHE +0.03 points	0.13%	0.10%
Asustek Computer Inc	SCHE +0.02 points	0.19%	0.17%
Wipro	SCHE +0.02 points	0.05%	0.03%
Companhia De Saneamento Basico De	SCHE +0.03 points	0.11%	0.08%
Byd H	SCHE +0.03 points	0.32%	0.29%
Hindustan Aeronautics Ltd	SCHE +0.02 points	0.10%	0.08%
Petro Rio	SCHE +0.02 points	0.10%	0.08%
Ultratech Cement Ltd	SCHE +0.02 points	0.14%	0.12%
Grupo Aeroportuario Del Pacifico	SCHE +0.02 points	0.08%	0.06%
Kgi Financial Holding	SCHE +0.02 points	0.18%	0.16%
Hua Hong Grace Semiconductor Ltd	VWO +0.02 points	0.06%	0.08%
Absa Group	SCHE +0.02 points	0.10%	0.08%
Taiwan Cooperative Financial Holdi	SCHE +0.02 points	0.09%	0.07%
Arca Continental	SCHE +0.02 points	0.10%	0.08%
Titan Company Ltd	SCHE +0.02 points	0.17%	0.15%
Uni-President Enterprises	SCHE +0.02 points	0.12%	0.10%
Sanlam Limited Ltd	SCHE +0.02 points	0.08%	0.06%
Emirates Nbd	SCHE +0.02 points	0.15%	0.13%
Maruti Suzuki India Ltd	SCHE +0.02 points	0.15%	0.13%
Laurus Labs Ltd	SCHE +0.02 points	0.08%	0.06%
Largan Precision Ltd	SCHE +0.02 points	0.16%	0.14%

All 2,233 SCHE holdings⁠All 5,942 VWO holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

SCHE vs VWO Cost

Same expense ratio

$1,270

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

SCHE 0.06%
$1,270
VWO 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

SCHE 0.06%
VWO 0.06%

Year by year

Year	SCHE	VWO
10	$110	$110
20	$432	$432
30	$1,270	$1,270

Expense ratio

0.06%SCHE
0.06%VWO

SCHE0.06%VWO0.06%

0.06%0.29%

Middle half of Emerging Markets Total Market funds
Median 0.07%

SCHE cheapest of 5 funds

VWO cheapest of 5 funds

SCHE vs VWO Dividends

Last 12 months to Oct 30, 2026

Yield (12M): SCHE 2.79%, better; VWO 2.19%
Payout (12M): SCHE $0.95; VWO $1.22
Last payment: SCHE $0.04; VWO $0.11
Ex-dividend: SCHE Jun 24, 2026; VWO Sep 18, 2026
Paid on: SCHE Jun 29, 2026; VWO Sep 22, 2026
Frequency: SCHE Twice a year; VWO Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

SCHETwice a year · 19 paymentsAll SCHE payments⁠

VWOQuarterly · 38 paymentsAll VWO payments⁠

SCHE vs VWO Risk

Fall from peak · 5 years

SCHE
VWO

Risk facts

VolatilityStd dev, 3 years: SCHE 11.8%, betterVWO 12.0%
Return per unit of riskSharpe ratio, 3 years: SCHE 1.05, betterVWO 0.99
Worst fallMax drawdown, 5 years: SCHE −30.3%VWO −29.9%, better
Market sensitivityBeta, 5 years: SCHE 0.87VWO 0.78; Market = 1

SCHE and VWO in the news

All news⁠

News
Vietnam enters FTSE emerging-market indexes, starting at 10% of its weight
Sep 21, 2026SCHEVWO
Best ETFs
Best international ETFs: one cheap fund, then the Korea choice
Updated Nov 2, 2026VWO
Head-to-Head
South Korea is the difference between VWO and IEMG
Oct 20, 2026VWO
New ETFs
Three new international stock funds, and none is the cheap one
Oct 5, 2026VWO
New ETFs
Avantis lists an international stock ETF with Vanguard on top
Oct 5, 2026VWO
Best ETFs
Vanguard's total international fund is the one-fund pick, and Korea splits the rest
Updated Oct 2, 2026VWO

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SCHE vs VWO

In short

Stated mandate

Why people hold it